The structure and magnetic properties of multilayer magnets containing a hard phase ͓HP ϵ͑Nd 0.95 Dy 0.05 ͒͑Fe, Co, Nb, B͒ 5.5 ͔ and a soft phase ͑SPϵ Fe and Fe 65 Co 35 ͒ have been investigated. For the nanocomposite multilayer of Si͑substrate͒ /Ti͑30 nm͒ / ͓HP͑x nm͒ /SP͑y nm͔͒n / Ti͑30 nm͒, the remanence enhancement has been observed at different thickness and volume fractions of hard-and soft-phase layers. The remanence increases and the coercivity decreases with the addition of soft phase, in comparison with the results of the single-layer film. For the multilayer of Si͑substrate͒ /Ti͑30 nm͒ / ͓HP͑15 nm͒ /Fe͑5 nm͔͒n /Ti͑30 nm͒ annealed at 575°C for 30 min, the coercivity of the multilayer reaches a maximum at n = 20. Effects of the layer thickness and volume fraction of hard-and soft-phase layers on magnetic properties and exchange coupling in the multilayer films have been observed.